New global trade pacts may cut out India, China

A new global trading system is being erected, almost unnoticed in India. One of its unstated aims is to check China’s rise through economic discrimination. But it could end up discriminating against India too. Two major new international trade pacts are under negotiation. One is the Trans Pacific Partnership (TPP), creating a free trade area (FTA) of North America and East Asia (including Japan, Australia, New Zealand, Vietnam and some others). For the first time, a once-protectionist Japan plans to join the US in a region of free trade and investment.

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